Callan Capital LLC Acquires New Holdings in CVS Health Corporation (NYSE:CVS)

Callan Capital LLC purchased a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,844 shares of the pharmacy operator's stock, valued at approximately $260,000.

A number of other institutional investors also recently added to or reduced their stakes in CVS. Norges Bank purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $839,574,000. Capital World Investors lifted its position in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after buying an additional 12,819,148 shares during the last quarter. Dodge & Cox lifted its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of CVS Health by 30.1% during the 4th quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock worth $809,730,000 after buying an additional 4,173,243 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

CVS traded down $0.89 during trading on Friday, hitting $64.73. The stock had a trading volume of 6,840,837 shares, compared to its average volume of 10,196,795. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The firm has a market capitalization of $81.88 billion, a P/E ratio of 15.45, a PEG ratio of 0.95 and a beta of 0.57. The company's 50-day moving average price is $65.10 and its 200 day moving average price is $62.08. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 EPS. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.11%. CVS Health's payout ratio is currently 63.48%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVS. Jefferies Financial Group boosted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Mizuho lifted their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Finally, UBS Group lifted their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.